LGPS ill health pension CETV

charlieboy82

Hi all, first post so bare with me. Does anyone here have any experience of calculating a cetv for an lgps pension when the person has been awarded an ill health pension? Going through a divorce and worried about my only income. 
Thanks

Silvertabby

charlieboy82 said:

Hi all, first post so bare with me. Does anyone here have any experience of calculating a cetv for an lgps pension when the person has been awarded an ill health pension? Going through a divorce and worried about my only income. 
Thanks

The only way would be to ask your LGPS provider for a CETV for divorce purposes.  They will then supply all the information the Court needs in the form of a Form E.

Divorce CETVs (to be precise, CEV in cases where the pension is already in payment) are the most complex of calculations.  I've dealt with CEVs post normal retirement, but have to say that I've never come across an ill health pension CEV before.  A little voice at the back of my memory is telling me that the ill health enhancement is excluded from the calculation - but please check with the people who will actually be carrying out the calculation - your own LGPS. 

Do bear in mind that pensions aren't always shared out in divorces.  Your CEV is just another marital asset in the total pot, and you may find that it will be easier all round for you to keep your pension but give up, say, more equity in any jointly owned property.  In all of the CETVs I've done over 20 years less than 20% actually went to PSO status.

charlieboy82

Thank you, I did try and get some information from my lgps provider and they said the enhancement would be included, but I’m not sure how that would even work and potentially make my cev massive! I got tier 1 at 41 so if they added all the payments to the pot I should have made until 67 the pot could be ridiculous! I thought the ill health side was more of a benefit of the scheme?

If it’s based on what I paid in while in service that would be much better. It’s £150 to find out though. My ex is only 40 so has time to earn more etc, so solicitor is pushing for 50/50 on house and I keep my pension as I have no other earning capability really. Just a very stressful time! You suddenly realise how vulnerable you are!

xylophone

Hi all, first post so bare with me.

Ooh, you are awful....but I like it...